Wright Investors Service Inc. Cuts Stake in Valero Energy Co. (NYSE:VLO)

Wright Investors Service Inc. cut its position in Valero Energy Co. (NYSE:VLO) by 35.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,880 shares of the oil and gas company’s stock after selling 4,293 shares during the quarter. Wright Investors Service Inc.’s holdings in Valero Energy were worth $1,064,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VLO. EdgeRock Capital LLC bought a new position in Valero Energy in the 2nd quarter valued at approximately $27,000. Lynx Investment Advisory purchased a new stake in shares of Valero Energy during the second quarter valued at $29,000. Summit Securities Group LLC bought a new stake in Valero Energy in the 2nd quarter worth about $31,000. Rise Advisors LLC purchased a new position in Valero Energy in the 1st quarter worth about $33,000. Finally, Pathway Financial Advisers LLC bought a new position in Valero Energy during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

NYSE:VLO traded down $1.61 on Friday, reaching $142.42. 2,916,899 shares of the company’s stock traded hands, compared to its average volume of 3,028,215. The firm has a market cap of $46.57 billion, a PE ratio of 7.05, a P/E/G ratio of 3.35 and a beta of 1.39. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34. The stock has a 50-day simple moving average of $142.67 and a 200-day simple moving average of $153.79. Valero Energy Co. has a 12 month low of $119.88 and a 12 month high of $184.79.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.11. The business had revenue of $34.49 billion during the quarter, compared to the consensus estimate of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $5.40 EPS. Equities research analysts forecast that Valero Energy Co. will post 10.13 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, August 1st. Valero Energy’s payout ratio is currently 21.20%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VLO shares. Wolfe Research began coverage on shares of Valero Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $177.00 price objective for the company. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $169.00 to $123.00 in a research note on Friday, September 20th. StockNews.com cut Valero Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Scotiabank raised their target price on Valero Energy from $165.00 to $173.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Finally, The Goldman Sachs Group lowered their price objective on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.20.

Valero Energy Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.